Royce & Associates LP Grows Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Royce & Associates LP raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 36.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,010 shares of the company’s stock after acquiring an additional 57,908 shares during the quarter. Royce & Associates LP’s holdings in Alkami Technology were worth $7,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALKT. JPMorgan Chase & Co. grew its position in shares of Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares during the last quarter. FMR LLC lifted its stake in Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after buying an additional 141,319 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after buying an additional 173,394 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Alkami Technology during the third quarter worth $1,115,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Alkami Technology in the third quarter worth $875,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Price Performance

Alkami Technology stock opened at $25.48 on Wednesday. Alkami Technology, Inc. has a 1 year low of $22.65 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a 50 day moving average price of $32.14 and a 200 day moving average price of $34.54. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -54.21 and a beta of 0.49.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Sell-side analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares in the company, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 4,358 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the sale, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,767 shares of company stock valued at $4,004,934. Company insiders own 38.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALKT. The Goldman Sachs Group decreased their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Barclays decreased their price target on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.